Green Energy

GPS Renewables gets Rs 2,000 crore orders to develop compressed biogas projects across India

Biofuels conglomerate GPS Renewables has announced securing orders totaling Rs 2,000 crore for the development of multiple Compressed Biogas (CBG) projects throughout India. These CBG plants will be strategically located and would be designed to process 4,000 tonnes per day of agricultural residue and energy crops. There would also be an additional utilization of 300-tonnes per day of Municipal Solid Waste (MSW) processed for biogas, effectively preventing landfill accumulation.

The official statement held that this collective effort is projected to yield a minimum daily output of 350 tonnes per day (TPD) of compressed biogas.

With this substantial order backlog, GPS Renewables is poised to surpass a turnover of Rs 500 crore in the current financial year (2023-24), a notable increase from the previous year’s turnover of Rs 153 crore.

The company, having already established over 100 biogas plants, including Asia’s largest RNG plant based on Municipal Solid Waste (MSW) in Indore, Madhya Pradesh, is making significant strides in the clean energy sector.

GPS Renewables CEO and Co-founder Mainak Chakraborty said, “Today, our company has an order book of Rs 2,000 crore from leading conglomerates in the country. This showcases our commitment towards accelerating the substitution of fossil fuel with bio-energy and playing a key role in mitigating climate change.”

Looking ahead, through its climate infrastructure platform, GPSR Arya, the company aims to develop Compressed Biogas projects in collaboration with Indian Oil Corporation Ltd. In tandem with its growth, GPS Renewables has significantly expanded its workforce from 72 to 175 employees, currently employing 356 full-time professionals. The company maintains its profitability, reporting an EBITDA of Rs 17.5 crore with a PAT of Rs 11 crore in the previous financial year (2022-23).

In a recent partnership with Hasten Ventures, GPS Renewables introduced the “Regenerative Circular Bioenergy System” in Rajasthan. This innovative system, combining forestry and bioenergy, represents a substantial initiative towards addressing critical climate challenges.

Subhash Yadav

Recent Posts

BASF, Shenergy Group join forces for biomethane commercialisation

Global chemicals and bioenergy major BASF has announced to have signed an MoU with China’s…

11 hours ago

Rajputana Biodiesel set for inaugural IPO on November 26

Rajputana Biodiesel is set to debut in the capital market on November 26 as the…

15 hours ago

SECI, H2Global Stiftung collaborate to promote Green Hydrogen initiatives

The Solar Energy Corporation of India Ltd (SECI) has signed an MoU with H2Global Stiftung…

16 hours ago

Pilibhit’s Kisan Co-op Sugar Mill to begin ethanol production

Uttar Pradesh is making strides in the bioenergy and taking the decarbonisation quest of the…

17 hours ago

Deepak Agrawal is new Managing Director of GPS Renewables’ project development firm ARYA

Bengaluru-headquartered biogas EPC firm GPS Renewables has announced that it has appointed Deepak Agarwal as…

17 hours ago

Seawater-to-green hydrogen: NTPC to set up unique project near Vishakhapatnam

In a key development to further the green hydrogen movement in the country, NETRA, the…

3 days ago